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The Old Normal for the World Economy

Tuesday, 6 May 2014
After the financial crisis, we are returning to a world much more like the late 19th than the 20th century. This is a world where globalization continues but is less rules-based than its US hegemony. This is a world in which the poor countries are likely to continue to catch up with the rich but the richer countries are likely to grow more slowly.

Update: Unbalanced Central Bankers

Monday, 5 May 2014
An earlier post on Unbalanced Central Bankers made the point that most inflation-targeting central bankers have consistently undershot their inflation targets in the wake of the global financial crisis. As a result, rather than the symmetry that should mark deviations around target inflation, with above-target observations interspersed with below-target “misses,” the pattern has been a series of consistent under-shooting. The New York Times recently pointed out, here, that the Federal Reserve is failing to meet its own targets on inflation and unemployment.

CIGI appoints Malcolm Knight, former CEO of the Bank for International Settlements, as Distinguished Fellow

Tuesday, 29 April 2014
CIGI) is pleased to announce the appointment of Malcolm D. Knight as a CIGI Distinguished Fellow. Dr. Knight is a visiting professor of finance at the London School of Economics and Political Science, a trustee of the International Valuation Standards Council and a director of the Global Risk Institute in Financial Services. From 1999 to 2003, he was Senior Deputy Governor of the Bank of Canada, where he was the Bank’s chief operating officer and a member of the Board of Directors.

Internationalization of the Renminbi

Monday, 28 April 2014
Barry Eichengreen
The Chinese government’s active promotion of the internationalization of the renminbi (RMB) raises questions related to motivation, financial reform, credibility and international financial stability. To learn more about the situation in these and other areas, CIGI Senior Fellow Hongying Wang speaks with CIGI-INET grantee Barry Eichengreen, professor of economics and political science at the University of California, Berkeley, and research associate at the National Bureau of Economic Research.

A test for Europe

Thursday, 24 April 2014
This year marks the 70th anniversary of the Bretton Woods agreement, which created the "twin sisters" of 19th Street — the International Monetary Fund and the International Bank for Reconstruction and Development, aka the World Bank. Together with their parent, the United Nations, these institutions provided key international public goods: international financial stability and growth (IMF), global development (World Bank) and collective security (UN). The men and women "present at the creation" of these institutions believed they were contributing to an era of international relations.

Inside the Issues 4.24 | IMF Spring Ministerial Meetings

Wednesday, 23 April 2014
This week Domenico Lombardi and Samantha St. Amand of CIGI's Global Economy Program visit the Inside the Issues studio to discuss the Spring Meetings of the IMF and the World Bank Group, which took place April 11-13, 2014 in Washington, DC.

Taking stock of the IMF ministerial meetings: Same play, different characters

Wednesday, 16 April 2014
In their assessment of the IMF's April ministerial meetings in Washington, Domenico Lombardi, Director of CIGI's Global Economy Program, and Samantha St. Amand, CIGI Research Associate, write that "the sources of weakness in the global economy appear to have now shifted from advanced to emerging economies, as the recovery in the major advanced economies strengthens and monetary policy appears to be on a track towards ‘normalization’."

Discussing innovation and adaptation at ISA 2014

Tuesday, 8 April 2014
From March 27-29, more than 5,000 professors and students congregated in Toronto to discuss trends, hear from their peers on new research and network with colleagues working in the field of international relations.

Despite its 70 year history IMF still has a lot of growing to do

Tuesday, 8 April 2014
"In some ways, the International Monetary Fund prefers to see itself as a preventative tool and not a financing tool," writes CIGI Senior Fellow Bessma Momani in her summary of CIGI's co-sponsored event The IMF: What Is It Good For?

IMF: World economy is stronger but faces threats

Tuesday, 8 April 2014
Christopher S.Rugaber
"The ECB is behind the curve," says Domenico Lombardi, Director of CIGI's Global Economy program, commenting on the International Monetary Fund urging the European Central Bank to be more aggressive in fighting low inflation.
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